Receivables Receivables are amount owed to the firm by outsiders in the form of regular account or written promissory note to be collected in the future. Classification of Receivable 1. Account Receivable (A/R) A/Rs are amount owed to the firm by customer which create from selling merchandise or services on credit

2. Non Account Receivable (NAR) NARs are amount owed the firm wich are not created from selling merchandise or services on credit Examples of non account receivable: Interest Receivable Taxes Receivable Employess Receivable Devidend Receivable

Handling of Receivables To prepare list of receivables. It consists of the name of costumers, balance of receivables, customers address, transaction date, maturity date of account, and term of credit. To prepare bill of account To prepare copy of experied/matured and attach to bill of account To send bill of account to custumers

Recording Changes / Collectible of Receivables Posting to subsidiary ledger and ledger Three methods to journalize and posting receivables a. Posting from journal to the subsidiary ledger Sales invoice General Ledger Sales journal Subsidary Ledger

Notes: b. Posting to subsidiary ledger from business transaction c. Ledgerless Bookepiry Notes: - General Ledger = Control Account of Account Receivable - Subsidary Ledger = Customer account Sales invoice General Ledger Sales journal Subsidary Ledger Sales invoice General Ledger Sales journal Notes

Control Account of Receivable d. Recording/ posting collectibility of Account Receivables Cash Receipt Control Account of Receivable General journal Costumer Account

Confirmity Account Receible Balance Posting Collectibillity Account Receivable Control Account Subsidary Ledger Account Receivables UD. Panca 100.000.000 150.000.000 100.000 210.000 400.000 150.000 120.000 Mrs. Haris b. 210.000.000 610.000.000 CV. Abadi c. 400.000.000 470.000.000 Mr. Andhika d. 150.000.000 160.000.000 Mr. Harry e. 120.000.000 220.000.000